A blockchain is a distributed, immutable, and decentralized ledger at its core that consists of a chain of blocks and each block contains a set of data. The blocks are linked together using cryptographic techniques and form a chronological chain of information.
What does blockchain actually do?
Blockchain is a secure, transparent, and efficient way to share data across multiple parties. Blockchain cannot be altered or reversed, which means participants can trust the data that they are presented with.
How risky is blockchain?
Blockchain and smart contract software are more complicated and difficult to secure than virtually anything else. We want to build such systems knowing that malicious actors are participating maliciously but not allow them to compromise the systems.
Is blockchain just crypto?
We all know blockchain is the technology behind cryptocurrencies like Bitcoin, but it's actually way more powerful than that. This secure, transparent platform can be used to change the game in a surprising number of industries. Think beyond the digital coin: Blockchain is the infrastructure, not the coin itself.
How do you explain blockchain to a child?
How to explain blockchain to a child- A decentralized public ledger that keeps track of transactions across numerous computers is referred to as a blockchain. Blockchain is essentially a network of computers, or "nodes," that share the same transactional history.
What is blockchain explained very simply?
Definition. A blockchain is “a distributed database that maintains a continuously growing list of ordered records, called blocks.” These blocks “are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.